TE-MEA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TE-MEA
Largest movements
- Current investments +€225,000
new in 2025: €225,000
- Cash -€153,929
down €153,929 (-81.5%), from €188,933 to €35,004
mainly Current investments (-€225,000) and Contributions, distributions and other (-€132,500)
- Receivables after one year -€90,475
down €90,475 (-53.8%), from €168,310 to €77,835
- Receivables within one year +€29,233
up €29,233 (+212%), from €13,807 to €43,040
of which Trade receivables: +€23,209
- Tangible fixed assets -€15,559
down €15,559 (-31.2%), from €49,856 to €34,296
of which Furniture and vehicles: -€14,762
- Reserves -€27,460
down €27,460 (-8.3%), from €331,855 to €304,395
of which Distributable reserves: -€27,460
- Tax, wage and social debts +€14,414
up €14,414 (+36.1%), from €39,876 to €54,291
- Other debts +€9,234
up €9,234 (+116%), from €7,927 to €17,161
- Debts after one year -€7,306
down €7,306 (-53.7%), from €13,611 to €6,304
- Trade debts +€5,291
up €5,291 (+183%), from €2,885 to €8,176
- Gross operating margin +€34,432
up €34,432 (+25.6%), from €134,357 to €168,789
- Taxes +€12,976
up €12,976 (+40.1%), from €32,390 to €45,365
- Depreciation -€3,424
down €3,424 (-16.1%), from €21,318 to €17,894
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €424,527 | €419,076 | -€5,451 | -1.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €49,856 | €34,296 | -€15,559 | -31.2% |
| Tangible fixed assets | 22/27 | €49,856 | €34,296 | -€15,559 | -31.2% |
| Land and buildings | 22 | €4,619 | €4,069 | -€550 | -11.9% |
| Furniture and vehicles | 24 | €43,369 | €28,607 | -€14,762 | -34.0% |
| Other tangible fixed assets | 26 | €1,867 | €1,620 | -€247 | -13.2% |
| Current assets | 29/58 | €374,671 | €384,780 | +€10,109 | +2.7% |
| Amounts receivable after more than one year | 29 | €168,310 | €77,835 | -€90,475 | -53.8% |
| Other amounts receivable | 291 | €168,310 | €77,835 | -€90,475 | -53.8% |
| Amounts receivable within one year | 40/41 | €13,807 | €43,040 | +€29,233 | +212% |
| Trade receivables | 40 | €13,797 | €37,006 | +€23,209 | +168% |
| Other amounts receivable | 41 | €10 | €6,034 | +€6,024 | +60,002% |
| Current investments | 50/53 | - | €225,000 | +€225,000 | |
| Cash at bank and in hand | 54/58 | €188,933 | €35,004 | -€153,929 | -81.5% |
| Deferred charges and accrued income | 490/1 | €3,621 | €3,901 | +€280 | +7.7% |
| Total equity and liabilities | 10/49 | €424,527 | €419,076 | -€5,451 | -1.3% |
| Equity | 10/15 | €353,193 | €325,734 | -€27,459 | -7.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €331,855 | €304,395 | -€27,460 | -8.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Distributable reserves | 133 | €331,855 | €304,395 | -€27,460 | -8.3% |
| Profit (loss) carried forward | 14 | €2,788 | €2,789 | +€1 | 0.0% |
| Amounts payable | 17/49 | €71,333 | €93,342 | +€22,008 | +30.9% |
| Amounts payable after more than one year | 17 | €13,611 | €6,304 | -€7,306 | -53.7% |
| Financial debts | 170/4 | €13,611 | €6,304 | -€7,306 | -53.7% |
| Amounts payable within one year | 42/48 | €57,723 | €86,935 | +€29,212 | +50.6% |
| Current portion of amounts payable after more than one year | 42 | €7,034 | €7,306 | +€272 | +3.9% |
| Trade debts | 44 | €2,885 | €8,176 | +€5,291 | +183% |
| Suppliers | 440/4 | €2,885 | €8,176 | +€5,291 | +183% |
| Taxes, remuneration and social security | 45 | €39,876 | €54,291 | +€14,414 | +36.1% |
| Taxes | 450/3 | €39,876 | €54,291 | +€14,414 | +36.1% |
| Other amounts payable | 47/48 | €7,927 | €17,161 | +€9,234 | +116% |
| Accrued charges and deferred income | 492/3 | - | €103 | +€103 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,318 | €17,894 | -€3,424 | -16.1% |
| Other operating charges | 640/8 | €665 | €685 | +€20 | +3.1% |
| Gross operating margin | 9900 | €134,357 | €168,789 | +€34,432 | +25.6% |
| Operating profit (loss) | 9901 | €112,374 | €150,210 | +€37,836 | +33.7% |
| Financial income | 75/76B | €2,187 | €1,051 | -€1,136 | -51.9% |
| Recurring financial income | 75 | €2,187 | €1,051 | -€1,136 | -51.9% |
| Financial charges | 65/66B | €1,069 | €854 | -€215 | -20.1% |
| Recurring financial charges | 65 | €1,069 | €854 | -€215 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €113,492 | €150,406 | +€36,915 | +32.5% |
| Income taxes | 67/77 | €32,390 | €45,365 | +€12,976 | +40.1% |
| Profit (loss) for the period | 9904 | €81,102 | €105,041 | +€23,939 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €81,102 | €105,041 | +€23,939 | +29.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.